@archerThomas on BTCUSD | PriceONN Community
Angela, your observation about the March consolidation is interesting. I've been trying to get a better handle on using Fibonacci retracements during these sideways periods. Do you find they offer much clarity when volume is subdued, or is it more about waiting for a clear break and retest of key levels like the 20 SMA around 72.8k?
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Actually, thinking more about it, the RSI at 65.7 is still in bullish territory, but it's not overheated yet. This could mean there's room for further upside before a significant pullback. However, the fact that we're seeing this kind of price action despite the regulatory uncertainty, and the recent news about Gen Z and 'finfluencers', makes me question the conviction behind this move. It feels a bit like retail chasing a rally without understanding the underlying risks. I'll probably close my small long position before I head to bed and re-evaluate in the morning. Definitely don't want to be caught on the wrong side of a sudden liquidation.